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Kansas Insists Pension Fund Still Stable Despite Concerns

$100 bills (Photo by J. Schafer)

TOPEKA, Kan. (AP) — State officials in Kansas are insisting that eliminated and delayed payments to a pension fund for teachers and other government workers won't affect retirees.  The Lawrence Journal-World reports that officials with the Kansas Public Employees Retirement System assured retirees' financial safety to a legislative oversight committee on Monday. The message is part of the retirement system's annual report to the Legislature about the actuarial value of the pension fund and the estimated difference between its current assets and long-term obligations.  KPERS is a pension system that manages retirement accounts of more than 300,000 members, including state employees. The state eliminated a nearly $100 million payment to the pension fund last year. Lawmakers also delayed a $64 million payment this year.  State Senator Laura Kelly noted that KPERS is now nearly 67 percent funded.  However, the fund's unfunded liability has grown to $9.06 billion.

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